BUSINESS STATUS

A company is a legal entity, formed by a group of individuals to engage in and operate a

business enterprise with common goals and objectives registered under the Companies Act.
Each company has an operational status to it. The ‘Status’ of a company is an indicator of
whether the company is still functioning or not.
TYPES OF BUSINESS STATUS
Most business owners will choose from the six most common options:
Sole proprietorship, general partnership, limited partnership, LLC, C corporation or S
corporation.
SWORT ANALYSIS
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats.
SWOT analysis is a strategic planning technique used to help a person or organization identify
strengths, weaknesses, opportunities, and threats related to business competition or project
planning.
FINANCIAL ASPECTS
Finance is a business function that uses numbers and analytical tools to help managers make better
decisions. The financial section is composed of four financial statements: the income statement,
the cash flow projection, the balance sheet, and the statement of shareholders' equity. It also
should include a brief explanation and analysis of these four statements. Financial managers are
responsible for the financial health of an organization. They produce financial reports, direct
investment activities, and develop strategies and plans for the long-term financial goals of their
organization.
DIFFERENT FINANCIAL ASPECTS
Finance consists of three interrelated areas:
(1) money and credit markets, which deals with the securities markets and financial institutions;
(2) investments, which focuses on the decisions made by both individuals and institutional
investors.
(3)financial management, which involves decisions made within the firm regarding the acquisition
and use of funds.
PERFORMANCE ANALYSIS
Performance analysis is the technique of studying or comparing the performance of a specific
situation in contrast to the aim and yet executed. In Human Resource, performance analysis can
help to review an employee's contribution towards a project or assignment, which they allotted
him or her.
RISK AND THREATS
Risk is the potential for loss, damage or destruction of assets or data caused by a cyber threat.
THREATS TO BUSINESS
• Financial issues.
• Laws and regulations.
• Broad economic uncertainty.
• Attracting and retaining talent.
• Legal liability.
• Cyber, computer, technology risks/data breaches.
• Increasing employee benefit costs.
• Medical cost inflation.
INTERNAL CHECKS AND CONTROL
The key difference between internal check and internal control is that internal check refers to
the way of allocating responsibility, segregation of work where work of the subordinates is
checked by the immediate supervisors to verify that the work is carried out according to
the company policies and guidelines whereas internal control is the system implemented by
a company to warrant the integrity of financial and accounting information and ensure
that the company is progressing towards fulfilling its profitability and operational
objectives in a successful manner.
DEPARTMENTAL HANDLING
HUMAN RESOURCE MANAGEMENT
Human resource management (HRM) is the practice of recruiting, hiring, deploying and
managing an organization's employees. HRM is often referred to simply as human resources
(HR).
Human resource management is the strategic approach to the effective and efficient management of people in a
company or organization such that they help their business gain a competitive advantage. It is designed to
maximize employee performance in service of an employer's strategic objectives.

CONFLICT OF INTEREST SITUATION

A conflict of interest (COI) is a situation in which a person or organization is involved in
multiple interests, financial or otherwise, and serving one interest could involve working
against another.